Virgin Australia preparing to enter voluntary administration: SMH

SYDNEY (Reuters) – Virgin Australia Holdings Ltd is preparing to enter voluntary administration, the Sydney Morning Herald reported on Monday, citing unnamed sources, with the cash-strapped carrier unable to weather the coronavirus crisis due to its debt load.

The newspaper said the airline’s board of directors was meeting on Monday, with a source saying the announcement of it going into administration was “imminent”.

Virgin did not respond immediately to a request for comment.

(Reporting by Jamie Freed; Editing by Christian Schmollinger)